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Condensed Consolidated Statements of Income and Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Income Statement [Abstract]        
Net sales $ 5,015,023 $ 4,722,922 $ 14,686,116 $ 14,131,281
Cost of goods sold 3,390,597 3,238,687 9,954,941 9,689,653
Gross profit 1,624,426 1,484,235 4,731,175 4,441,628
Operating expenses:        
Selling, administrative and other expenses 1,269,893 1,119,266 3,684,026 3,401,254
Depreciation and amortization 68,922 61,082 197,053 177,896
Provision for doubtful accounts 1,693 4,939 11,624 11,306
Total operating expenses 1,340,508 1,185,287 3,892,703 3,590,456
Non-operating (income) expenses:        
Interest expense 26,485 25,084 73,664 75,669
Other (47,100) (17,871) (53,366) (45,822)
Total non-operating (income) expenses (20,615) 7,213 20,298 29,847
Income before income taxes 304,533 291,735 818,174 821,325
Income taxes 77,046 71,508 206,007 197,550
Net income $ 227,487 $ 220,227 $ 612,167 $ 623,775
Basic net income per common share (usd per share) $ 1.56 $ 1.50 $ 4.20 $ 4.25
Diluted net income per common share (usd per share) 1.56 1.49 4.18 4.23
Dividends declared per common share (usd per share) $ 0.7625 $ 0.7200 $ 2.2875 $ 2.1600
Weighted average common shares outstanding (in shares) 145,572 146,763 145,875 146,746
Dilutive effect of stock options and non-vested restricted stock awards (in shares) 617 690 654 574
Weighted average common shares outstanding - assuming dilution (in shares) 146,189 147,453 146,529 147,320
Other comprehensive loss, net of income taxes:        
Foreign currency translation adjustments $ (126,350) $ (26,590) $ (88,369) $ (147,703)
Cash flow and net investment hedge adjustments, net of income taxes in 2019 — $16,988 and $15,057; 2018 — $278 and $6,213 respectively 45,925 752 40,704 16,797
Pension and postretirement benefit adjustments, net of income taxes in 2019 — $2,592 and $6,166; 2018 — $2,560 and $7,850 respectively 7,024 6,912 16,689 21,221
Other comprehensive loss, net of income taxes (73,401) (18,926) (30,976) (109,685)
Comprehensive income $ 154,086 $ 201,301 $ 581,191 $ 514,090